#1. Contractor General Liability Insurance Policies and Insurers are NOT All The Same!
There are many important liability insurance items, but the five shown below may help differentiate between a "Good Rate for You" or "Good Deal for the Insurer." 1. An ISO General Liability Insurance Policy is the "Standard and Usual" of the industry and is a frequent requirement under common contracts.
2. Products and Completed Operations is the Most Important Coverage Part for most contractors and "Limited Period Coverage" will restrict that coverage.
3. Verify "All Operations Are Disclosed and Identified In Premium Basis" because many contractor liability policies are issued with a not disclosed - not covered condition.
4. An insurer's ability to pay claims can be evaluated by an established track record of "Financial Strength" it has been assigned by reputable rating agencies. 5. Unrated insurers may aggressively promote their rated reinsurance but the important factor is if you will be provided a "Cut-Through Endorsement."
>A poor selection of Insurer and Coverage may have a "Costly Long Term Effect".
>A uninformed decision may "Limit Insurance Choices and Raise Rates in Future".
Important links are provided at the bottom of the page to provide you with insight about markets, coverage's and exposures - please use them.